Unconventional Natural Gas Extraction Market Global Industry Forecasts - 2024

Natural gas is majorly obtained from gas shale, coal, and gas hydrates, which are considered as unconventional natural gases. With a rising demand for power generation, there has been a robust growth in the production and exploration activities of unconventional natural gas worldwide. Technological developments in the extraction techniques such as hydraulic fracturing and drilling and the benefits of natural gas in comparison with other fuels for power generation are some of the vital reasons anticipated to augment global unconventional natural gas extraction market.

The research study provides a comprehensive analysis of the global unconventional natural gas extraction market, focusing on the key growth prospects and opportunities in the next few years. A detailed overview of the competitive landscape of the global market has been provided in the study to offer a clear picture of the market. The company profiles, contact information, historical information, financial status, business policies, SWOT analysis, and recent developments have been discussed in the scope of the research report. In addition, the key geographical segments, technological developments, primary applications, and the product portfolio of the global unconventional natural gas extraction market have been presented in the study.

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Global Unconventional Natural Gas Extraction Market: Drivers and Barriers

The global unconventional natural gas extraction market is projected to witness progressive growth throughout the forecast period. The high growth of the overall market can be attributed to the rising number of countries who are deploying their indigenous resources for ensuring energy security and the growth and development of new supplies of gas resources across the globe. In addition, the widespread availability of unconventional natural gas resources is expected to supplement the growth of the market by expanding the application base.

On the other hand, the global market for unconventional natural gas extraction is expected to witness several challenges in the next few years. The rising environmental concerns is one of the major reasons anticipated to restrict the growth of the overall market in the next few years. Most of the emerging nations are focusing on investing in the global market in order to meet their rising energy demands. This is projected to create significant growth opportunities for the key players operating in the market.

Global Unconventional Natural Gas Extraction Market: Regional Outlook

The global market for unconventional natural gas extraction can be classified in terms of geography into North America, Europe, Asia Pacific, and the Rest of the World. Among these segments, North America is likely to lead the global unconventional natural gas extraction market and account for a key share in the coming few years. The rising interest of consumers in making use of unconventional natural gas and related extraction technologies are some of the vital factors estimated to encourage the growth of the market in North America. Moreover, several government initiatives are projected to contribute extensively towards the development of the overall market in the next few years.

Furthermore, Asia Pacific is expected to witness significant growth throughout the forecast period, thanks to the low costs of natural gas. The favorable growth opportunities in several emerging nations owing to the rising inclination towards unconventional natural gas as a promising energy source in order to lessen supply shortages is anticipated to supplement the growth of unconventional natural gas extraction market in Asia Pacific. Moreover, the revenue generation is expected to increase substantially in the next few years.

Companies Mentioned in the Research Report

Some of the key players operating in the unconventional natural gas extraction market across the globe are Chevron Corporation, Devon Energy Corporation, Baker Hughes, Oil & Natural Gas Corporation (ONGC), Hindustan Petroleum Corporation Ltd., ExxonMobil Corporation, British Gas, Siemens, Bow Energy Ltd., Halliburton, Chesapeake Energy, ConocoPhillips Company, General Electric Company (GE), Reliance Industries (RIL), and China National Offshore Oil Corporation. The competitive scenario of the overall market is expected to strengthen throughout the forecast period.

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